Game On – Are You Ready to Take the Social Security Challenge?
It’s clear that our lawmakers are failing when it comes to fixing the Social Security solvency issue. Do you think you could do better?
The American Academy of Actuaries has developed the Social Security Challenge, an animated exercise that explains how the system works, the looming funding shortfall, and possible financial solutions.
In an article by Yahoo! Finance, David Mendes, director of communications for the Academy, explained the Social Security Challenge “immerses users in an animated virtual trek where they learn about the program, the financing shortfall that could (if unaddressed by Congress) lead to future cuts in scheduled benefits, and how different reform options they select along their journey could help address the shortfall.”
The gamified exercise allows people to “develop your proposed reform approach by exploring a virtual town, where you’ll hear residents’ diverse views on reform ideas, learn about their impacts, and puzzle through choices. In the challenge finale, select and submit your approach from a range of possible reform options and see how well it works to keep Social Security financially strong.”
The Seniors Trust thinks the solution to Social Security solvency already exists. Now it’s up to Congress to enact the Social Security Expansion Act. This landmark piece of legislation will give retirees an immediate increase of about $200 a month in benefits, a fair annual cost-of-living adjustment (COLA), increased minimum benefits, and ensure the long-term solvency of the Social Security program.
